One of Warren Buffett’s favorite CEOs,Occidental Petroleum’s Vicki Hollub, hasn’t delivered for investors.
Since Hollub, 65, became CEO in April 2016, Occidental stock has been in the bottom 10 stocks among the 50 in the S&P oil and gas exploration and production index.
Key Points Continued
“ The recent $9.7 billion sale of its chemicals business to Berkshire Hathaway aims to reduce net debt below $15 billion, but investors reacted negatively.”
Anyone have a Barron's subscription so that we can read the rest of the article... This info is nothing new, Yahoo finance tells the same story.
It is frustrating knowing this but not being able to do anything about it.
“Key Points
Occidental Petroleum’s stock has delivered a negative 20% total return since April 2016, underperforming the Energy Select Sector SPDR’s over 90% return.
Occidental’s debt-financed acquisitions, including the $55 billion Anadarko deal, have burdened the company with significant debt.”
https://www.barrons.com/articles/buffett-occidental-ceo-hollub-stock-c797d099#